Jewellery insurance advice

[bjonesreborn]

i very sadly lost my mother in October. She has left all of her jewellery to me. At the moment it’s still at my parents house in a safe. But I’d like to have it at my house so that it will actually get worn.

I have no clue where to start with insurance. It was all valued last in 2020, is that going to be recent enough for insurers? are there specific insurance companies that deal with high value items?

if anyone has any advice I’d be very grateful.

In a similar situation I took the jewellery to be valued at a local independent jewellers who deal in high-value items. I took photos and sent them, with the valuation, to my household insurers, who added them as named items to my contents insurance. The premiums were not affected.

This was about 15y ago. Your question makes me wonder whether I should have them revalued.

Sorry for your loss. It might need to be valued for probate anyway? So you could ask them to give you a valuation for insurance at the same time (I think they are different?). Mine was done by a local jeweller who also offered valuation services.

My jewellery over £2k is just on my house insurance as a named item but I only have a few pieces.

A local jewellers will value the pieces for you. Then when you have the valuations, contact your house insurance and see if any need added as separate items. On mine my eternity ring isn’t insured separately but my engagement ring is due to its value.

I find independent jewellers better for this than a chain.

Definitely have yours revalued. I was burgled and unknowingly underinsured. The insurers thought that I should have known that the price of gold had risen enormously over the last 15-20 years. Their valuation was more than double my estimate. They did pay out in the end (they almost didn’t) but several items were over my specified individual limit and I didn’t get the full value for those.

Please revalue - I had my rings stolen recently and home insurance is refusing to pay out as the valuations are more than 5 years old! Hoping they will relent, but I hadn’t noticed the clause in the t&c 😭

Also watch out if they are insured as being in a safe…some policies have very small print that says they are then NOT insured if you wear them without telling insurance co first! All my jewellery is in a safe but insured as if it isn’t (surprisingly not really any difference in cost)

Thank you everyone. Most helpful

Definitely get jewellery valued at least every 2 years. Insurance companies always ask for recent valuations.

Can anyone recommend an insurance company that insures jewellery? I have some on my home insurance but unfortunately I have exceeded the limit on that policy to insure a ring. Husband keeps telling me to stop buying jewellery at auction…….🙈 Thank you!

As a tip an insurance broker once advised me to take pictures of my home & possessions before I went on holiday in the event something happens as the insurance company can’t quibble when you have taken pictures showing the state of the property and your possessions in it.